TE Connectivity (NYSE:TEL) Rating Increased to Hold at HSBC

TE Connectivity (NYSE:TEL) was upgraded by equities researchers at HSBC from a “reduce” rating to a “hold” rating in a report released on Thursday,Briefing.com Automated Import reports. The brokerage presently has a $166.00 price objective on the electronics maker’s stock. HSBC’s price target would suggest a potential upside of 7.64% from the company’s current price.

A number of other research analysts have also recently issued reports on TEL. The Goldman Sachs Group cut their target price on shares of TE Connectivity from $189.00 to $179.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Bank of America lifted their target price on shares of TE Connectivity from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com upgraded shares of TE Connectivity from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 18th. Citigroup lifted their target price on shares of TE Connectivity from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Wells Fargo & Company lifted their target price on shares of TE Connectivity from $151.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.36.

TE Connectivity Stock Up 4.0 %

Shares of TEL opened at $154.22 on Thursday. The stock has a market cap of $46.03 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 2.02 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 1.61 and a debt-to-equity ratio of 0.27. TE Connectivity has a 12 month low of $133.57 and a 12 month high of $159.98. The company has a 50-day moving average price of $147.43 and a two-hundred day moving average price of $148.80.

TE Connectivity (NYSE:TEL) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.06. The firm had revenue of $3.84 billion during the quarter, compared to analysts’ expectations of $3,916,310.63 billion. TE Connectivity had a net margin of 20.15% and a return on equity of 18.48%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 earnings per share. Equities analysts predict that TE Connectivity will post 8.1 EPS for the current fiscal year.

TE Connectivity declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 30th that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the electronics maker to buy up to 5.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On TE Connectivity

Several institutional investors have recently added to or reduced their stakes in TEL. Benjamin F. Edwards & Company Inc. lifted its position in TE Connectivity by 5.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,804 shares of the electronics maker’s stock valued at $422,000 after acquiring an additional 139 shares in the last quarter. Public Sector Pension Investment Board lifted its position in TE Connectivity by 62.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 11,476 shares of the electronics maker’s stock worth $1,726,000 after buying an additional 4,415 shares in the last quarter. Insigneo Advisory Services LLC lifted its position in TE Connectivity by 64.9% during the 2nd quarter. Insigneo Advisory Services LLC now owns 4,422 shares of the electronics maker’s stock worth $634,000 after buying an additional 1,741 shares in the last quarter. AXA S.A. lifted its position in TE Connectivity by 3.3% during the 2nd quarter. AXA S.A. now owns 502,261 shares of the electronics maker’s stock worth $75,555,000 after buying an additional 16,164 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in TE Connectivity by 71.3% during the 2nd quarter. AQR Capital Management LLC now owns 431,626 shares of the electronics maker’s stock worth $64,860,000 after buying an additional 179,594 shares in the last quarter. 91.43% of the stock is owned by institutional investors.

TE Connectivity Company Profile

TE Connectivity Ltd., together with its subsidiaries, manufactures and sells connectivity and sensor solutions in Europe, the Middle East, Africa, the AsiaPacific, and the Americas. The company operates through three segments: Transportation Solutions, Industrial Solutions, and Communications Solutions.